... Net Revenues Equal to Prior Year and Net Losses Narrowed Compared to ... Year ...IRVINE Calif. Aug. 6 /- Endocare Inc.(Nasda...Total revenues for the second quarter of 2008 were $7.9 million equal...

Total revenues for the second quarter of 2008 were $7.9 million, equal
to the second quarter of 2007. Domestic probe sales, as well as the
estimated number of domestic cryoablation procedures performed, in the
second quarter and the first six months of 2008 and 2007 are summarized in
the following table:

Three Months Ended Six Months Ended

June 30, June 30,

2008 2007 2008 2007

Estimated domestic cryoablation

procedures 2,292 2,435 4,860 4,750

Number of cryoprobes sold:

Straight probes 9,074 10,131 19,357 19,895

Right-angle probes 2,054 1,626 3,974 3,073

Total 11,128 11,757 23,331 22,968

Probe sales are reported in two categories: straight probes, which are
typically, although not always, used in prostate procedures and right-angle
probes, which are typically used in procedures other than prostate
procedures.

Gross margin in the second quarter of433 10,919

Total liabilities and stockholders' equity $17,804 $21,261

2008 increased to 70.4 percent,
compared to 65.7 percent in the second quarter of 2007. Gross margin
continued to increase from production efficiencies and reductions in
materials costs. Operating expenses in the second quarter of 2008 were $7.7
million, compared to $7.6 million in the second quarter of 2007.

Endocare Chairman, CEO and President Craig T. Davenport said, "While
cryoablation continues to show clinical equivalency and in some cases
superiority to radiation and other treatment options, competitive
procedures and their associated economics led to some dilution with
existing physician customers in the first half of the year. A thorough
review of our year-to-date performance -- including the number and types of
cases performed by each of our physician customers -- suggested that
urology prostate cancer cases were impacted primarily by the emergence of
robotic prostatectomy and intensity modulated radiation therapy (IMRT). We
believe that patient demand for robotics and the current opportunity for
greater financial benefits to the physician from IMRT have specifically led
to that dilution. While the growth in non-prostate applications continues
to show strength, the decline in the number of prostate procedures is being
addressed in an aggressive manner."

Davenport continued, "We already have taken steps to help us regain the
growth that we have demonstrated in the past. These steps include programs
intended to impact the number of new physicians trained, increase revenues
from our existing customers and communicate directly and more broadly with
patients to educate them about the significant benefits of cryoablation.
The programs include additional new urology sales personnel, significantly
enhanced patient outreach and advertising and programs that assist our
existing physician customers in reaching more patients through
community-based marketing. An important element of these programs is an
increased emphasis on focal cryoablation, since we believe that this is an
area where we have a potentially substantial competitive advantage."

Net loss for the second quarter of 2008 was $2.0 million, or $0.17 loss
per share, compared to a net loss of $2.3 million, or $0.21 loss per share,
in the second quarter of 2007. Included in the net loss for the second
quarter was $828,000 of legal expenses related to the legal proceedings of
the Company's former CEO and former CFO, compared to a credit (a reduction
of expense) of $280,000 from refunded legal expenses in the second quarter
of 2007.

Adjusted earnings before interest, taxes, depreciation and amortization
(adjusted EBITDA) was a loss of $1.1 million for the second quarter of
2008, equal to a loss of $1.1 million for the second quarter of 2007. A
reconciliation of the differences between the GAAP net losses and the
adjusted EBITDA losses is included in an accompanying table.

Chief Financial Officer Michael Rodriguez reported cash and cash
equivalents of $4.8 million, total assets of $17.8 million, and total
stockholders' equity of $8.4 million as of June 30, 2008. The Company also
has potentially up to $5.0 million in additional capital available under
the stock purchase agreement announced in October 2006, depending on its
prevailing stock price, as well as amounts available on its credit facility
with Silicon Valley Bank. Rodriguez added that, in light of the investments
required to fund the growth initiatives described above as well as the
ongoing legal proceedings referred to above, the Company continues to
assess the adequacy of its capital resources and may use both existing and
new sources of capital to finance the growth of the business.

Conference Call

As previously announced, Endocare will host a conference call today to
discuss the Company's results for its second quarter ended June 30, 2008.
The call will take place at 11:00 a.m. (Eastern) and be broadcast live over
the Internet. To participate on the call, dial 1-877-870-1962 for callers
in the U.S. or +1-706-758-9692 for callers outside the U.S. Web
participants are encouraged to go to the Company's website
(http://www.endocare.com/investors/webcasts.php) at least 15 minutes prior
to the start of the call to register, download and install any necessary
audio software. The online archived replay will be available immediately
following the conference call at
http://www.endocare.com/investors/webcasts.php.

Use of Non-GAAP Financial Measures

The Company uses, and this press release contains and the related
conference call will include, the non-GAAP metric of adjusted EBITDA. The
calculation of adjusted EBITDA (earnings before interest, taxes,
depreciation and amortization, and also excluding FASB 123R non-cash stock
compensation expense, collectively "adjusted EBITDA") has no basis in GAAP.
The Company's management believes that this non-GAAP financial measure
provides useful information to investors, permitting a better evaluation of
the Company's ongoing and underlying business performance, including the
evaluation of its performance against its competitors in the healthcare
industry. Management uses this non-GAAP financial measure for purposes of
its internal projections and to evaluate the Company's financial
performance.

Non-GAAP financial measures should not be considered in isolation from,
or as a substitute for, financial information presented in conformity with
GAAP, and non-GAAP financial measures as reported by the Company may not be
comparable to similarly titled amounts reported by other companies. A
complete reconciliation of this non-GAAP financial measure for the
applicable periods to the most directly comparable GAAP measures is
presented in an accompanying table.

About Endocare

Endocare, Inc. -- http://www.endocare.com -- is an innovative medical
device company focused on the development of minimally invasive
technologies for tissue and tumor ablation. Endocare has initially
concentrated on developing technologies for the treatment of prostate
cancer and believes that its proprietary technologies have broad
applications across a number of markets, including the ablation of tumors
in the kidney, lung and liver and palliative intervention (treatment of
pain associated with metastases).

Statements in this press release that are not historical facts are
forward-looking statements that involve risks and uncertainties. Among the
important factors that could cause actual results to differ materially from
those in the forward-looking statements include, but are not limited to,
those discussed in "Risk Factors" in the Company's Forms 10-K, Forms 10-Q
and other filings with the Securities and Exchange Commission. Such risk
factors include, but are not limited to, the following items: the Company
may incur significant expenses in the future as a result of the Company's
obligation to pay legal fees for and otherwise indemnify former officers
and former directors in connection with the ongoing investigations and
legal proceedings involving them; uncertainty relating to third party
reimbursement; the Company has a limited operating history with significant
losses and losses may continue in the future; the Company may require
additional financing to sustain its operations and without it the Company
may not be able to continue operations; the sale of the Company's common
stock to Fusion Capital may cause dilution, and the sale of the shares of
common stock acquired by Fusion Capital or Frazier Healthcare Ventures
could cause the price of the Company's common stock to decline; the
Company's business may be materially and adversely impacted by the loss of
the Company's largest customer or the reduction, delay or cancellation of
orders from this customer or if this customer delays payment or fails to
make payment; the Company may be required to make state and local tax
payments that exceed the Company's settlement estimates; uncertainty
regarding the ability to convince health care professionals and third party
payers of the medical and economic benefits of the Company's products; the
risk that intense competition and rapid technological and industry change
may make it more difficult for the Company to achieve significant market
penetration; and uncertainty regarding the ability to secure and protect
intellectual property rights relating to the Company's technology. The
actual results that the Company achieves may differ materially from any
forward-looking statements due to such risks and uncertainties. The Company
undertakes no obligation to revise, or update publicly, any forward-looking
statements for any reason.

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